KUALA LUMPUR: Dutch Lady Milk Industries Bhd's (DLMI) net profit rose 56 per cent to RM72.4 million for the year ended Dec 31, 2023 (FY23).
The company's revenue crossed RM1.4 billion from RM1.34 billion in FY22, an increase of 7.7 per cent from a year ago as market share increased due to robust demand for Dutch Lady products.
The company enjoyed a volume growth increase of about three percent in the last financial year, aided by carefully implemented price adjustments, to ensure consumer affordability and profitability.
For the fourth quarter (Q4), Dutch Lady had a net profit of RM22.8 million compared to a net loss of RM20.2 million in the same period in 2022.
The same quarter also posted significant adjusted operating profits of RM59.1 million, an increase of RM46.3 million from the same corresponding period a year ago.
Revenue in the fourth quarter grew fractionally at RM365 million boosted by strong revenue growth management initiatives earlier in the year to mitigate the impact of inflationary headwinds.
Managing director Ramjeet Kaur Virik said DLMI remains cautiously optimistic about its future outlook and as a 60-year-old Malaysian dairy company, its products continue to enjoy strong multi-generational appeal.
She said as a market leader in Halal dairy products, Malaysians get to enjoy affordable nutritious Dutch Lady dairy products suitable for all Malaysian families as evidenced by a strong local legacy dating back to 1963.
"With our state-of-the-art manufacturing hub soon to be operational in 2024, DLMI will chart new operational excellence and efficiencies to help us continue to win in Malaysia," Ramjeet said.
She added that the new Halal plant in Bandar Enstek will help DLMI boost dairy production and impart valuable new technologies to the local dairy sector.
The new factory will not only benefit the Malaysian market but will also allow DLMI to enhance its business operations and presence in regional markets in line with FrieslandCampina's global strategy to create a long-term sustainable business model.
